Allete – Consensus Indicates Potential 18.1% Upside

Broker Ratings

Allete found using ticker (ALE) now have 6 analysts covering the stock. The analyst consensus points to a rating of ‘Hold’. The target price ranges between 88 and 55 with the average target price sitting at 63.83. Given that the stocks previous close was at 54.04 this is indicating there is a potential upside of 18.1%. The 50 day MA is 52.83 and the 200 day moving average is 55.97. The market cap for the company is $2,763m. Company Website:

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ALLETE operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, hydroelectric, natural gas-fired, biomass co-fired, and solar. The company provides regulated utility electric service in northeastern Minnesota to approximately 145,000 retail customers, as well as 15 non-affiliated municipal customers; and regulated utility electric, natural gas, and water services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers. It also owns and maintains electric transmission assets in Wisconsin, Michigan, Minnesota, and Illinois. In addition, the company focuses on developing, acquiring, and operating clean and renewable energy projects; and owns and operates approximately 660 megawatt of wind energy generation. Further, it is involved in the coal mining operations in North Dakota; and real estate investment activities in Florida. The company owns and operates 158 substations with a total capacity of 8,875 megavoltamperes. The company was formerly known as Minnesota Power and changed its name to ALLETE in May 2001. ALLETE was incorporated in 1906 and is headquartered in Duluth, Minnesota.

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